Sei Investments Co. Has $8.27 Million Stake in Sprint Corporation (S)
Sei Investments Co. increased its position in Sprint Corporation (NYSE:S) by 0.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,006,891 shares of the cell phone carrier’s stock after buying an additional 1 shares during the period. Sei Investments Co.’s holdings in Sprint Corporation were worth $8,267,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. BlackRock Inc. raised its stake in Sprint Corporation by 4,924.2% in the first quarter. BlackRock Inc. now owns 39,211,547 shares of the cell phone carrier’s stock worth $340,355,000 after buying an additional 38,431,100 shares during the last quarter. Vanguard Group Inc. raised its stake in Sprint Corporation by 5.1% in the first quarter. Vanguard Group Inc. now owns 37,670,102 shares of the cell phone carrier’s stock worth $326,977,000 after buying an additional 1,823,591 shares during the last quarter. Primecap Management Co. CA raised its stake in Sprint Corporation by 0.7% in the first quarter. Primecap Management Co. CA now owns 36,683,700 shares of the cell phone carrier’s stock worth $318,415,000 after buying an additional 242,400 shares during the last quarter. State Street Corp raised its stake in Sprint Corporation by 1.7% in the first quarter. State Street Corp now owns 14,713,069 shares of the cell phone carrier’s stock worth $127,704,000 after buying an additional 243,184 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Sprint Corporation by 2.8% in the first quarter. Dimensional Fund Advisors LP now owns 7,024,710 shares of the cell phone carrier’s stock worth $60,959,000 after buying an additional 188,345 shares during the last quarter. Institutional investors own 14.35% of the company’s stock.
Shares of Sprint Corporation (NYSE:S) opened at 8.31 on Friday. The company’s market cap is $33.21 billion. Sprint Corporation has a 12 month low of $5.83 and a 12 month high of $9.65. The company’s 50-day moving average price is $8.33 and its 200-day moving average price is $8.47.
Sprint Corporation (NYSE:S) last issued its quarterly earnings results on Tuesday, August 1st. The cell phone carrier reported $0.05 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.06. Sprint Corporation had a negative return on equity of 3.66% and a negative net margin of 2.08%. The company had revenue of $8.16 billion for the quarter, compared to the consensus estimate of $8.14 billion. During the same quarter in the prior year, the business earned ($0.08) EPS. Sprint Corporation’s revenue was up 1.8% on a year-over-year basis. Equities analysts forecast that Sprint Corporation will post ($0.83) EPS for the current fiscal year.
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A number of research firms have weighed in on S. Vetr lowered Sprint Corporation from a “buy” rating to a “hold” rating and set a $9.26 target price on the stock. in a research note on Tuesday, April 25th. UBS AG reiterated a “neutral” rating and issued a $9.00 target price on shares of Sprint Corporation in a research note on Wednesday, August 2nd. Wells Fargo & Company reiterated an “outperform” rating on shares of Sprint Corporation in a research note on Wednesday, August 2nd. Cowen and Company reiterated a “market perform” rating and issued a $6.50 target price on shares of Sprint Corporation in a research note on Wednesday, August 2nd. Finally, ValuEngine upgraded Sprint Corporation from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Seven analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have given a buy rating to the stock. Sprint Corporation has an average rating of “Hold” and a consensus price target of $9.89.
In other news, VP Paul W. Schieber, Jr. sold 24,465 shares of the stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $8.22, for a total value of $201,102.30. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.18% of the stock is owned by corporate insiders.
About Sprint Corporation
Sprint Corporation (Sprint) is a holding company. The Company, along with its subsidiaries, is a communications company offering a range of wireless and wireline communications products and services that are designed to meet the needs of consumers, businesses, government subscribers and resellers. It operates through two segments: Wireless and Wireline.
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